VANCOUVER, BRITISH COLUMBIA (Oct. 11, 2017) NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES Lithium X Energy Corp. (TSX VENTURE:LIX)(OTCQB:LIXXF) [...]
LiTHIUM X is a lithium resource explorer and developer with a focus on becoming a low-cost supplier for the burgeoning lithium battery industry. Its Sal de los Angeles project is situated in the prolific “Lithium Triangle” in Salta Province, Argentina. The project is comprised of 8,854 hectares and LiTHIUM X now controls 100% of the mineral titles contained within the brine bearing regions of the Diablillos basin. Approximately C$20M invested in work on the property between 2010 to 2017. It contains high grade brine with a NI 43-101 Mineral Resource Estimate of 1,037,000 tonnes of lithium carbonate equivalent of Indicated, and 1,007,000 tonnes of lithium carbonate equivalent in Inferred category.
LiTHIUM X is also exploring the district-scale 33,846 hectares Arizaro project located in one of the world’s largest and least explored salars thought to contain elevated lithium brine values. LiTHIUM X believes there is the potential to increase and enhance brine processing at Sal de Los Angeles, Lithium X’s flagship project, by combining with brine products from Arizaro. The entire salar is staked with other current land holders in Arizaro including Eramet, Sentient and REMSA (Salta Government).
Furthermore, LiTHIUM X owns 19.9% of Pure Energy Minerals, a company exploring and developing a large land package of approximately 26,3oo acres surrounding Albemarle’s Silver Peak lithium mine in Clayton Valley, Nevada.
LiTHIUM X is listed on the TSX Venture Exchange under the symbol LIX.V.
The LiTHIUM X team has created several multi-billion dollar companies from scratch and has access to a global network of business, government and philanthropic leaders.
The team are major shareholders in LiTHIUM X and are focused on maintaining a sound share structure and financing the company in ways that benefit existing and future shareholders.
The technical and project personnel are leading experts, having lead exploration and development projects in Nevada’s Clayton Valley and throughout South America.
LiTHIUM X has three strategically located assets:
Management continues to actively pursue strategies to enhance its project portfolio.
The energy storage revolution is generating high demand for lithium, with some analysts forecasting order-of-magnitude demand increases.
Battery giants are scaling up lithium-ion production with mega factories and actively acquiring raw materials through long-term offtake agreements.
Companies already producing lithium are attempting to increase production. However, the majority of current production (both brine and hard-rock operations) are capacity constrained with geopolitical risk affecting some of the world’s major production areas.